Industrial production continues to flourish

Continuing the recovery momentum from the end of 2023 and the first months of 2024, industrial production in the country in general and in the province in particular continues to prosper, positively contributing to the overall growth of the economy.

In the first 6 months of the year, the industrial growth rate in the province has increased by 14.58% over the same period, the industrial production index IIP is estimated to increase by 33.8%. Production achieved positive results thanks to the significant contributions of a number of large-scale enterprises newly put into operation such as: Electronic factory project of BYD Vietnam Electronics Co., Ltd. (Phu Ha Industrial Park) generates a 6-month revenue of 20,000 billion VND; The solar panel production project of Vietnam Sunergy Cell Co., Ltd. (Cam Khe Industrial Park) that was put in operation from August 2023 brings a 6-month revenue of 3,500 billion VND...

Stability in production, market expansion, and businesses' search for domestic and foreign orders have pushed the entire industry to grow strongly, with 11/19 industry groups experiencing growth over the same period.

Some key industrial products in the first 6 months of the year has increased compared to the same period last year such as: Laptops are estimated at 5.9 million units, more than 2 times higher than the same period; Integrated electronic circuits are estimated to reach 37.9 million units, an increase of 30%; superphosphate fertilizer is estimated at 216,500 tons, an increase of 17.6%; NPK fertilizer is estimated at nearly 225,000 tons, an increase of 13.6%; Ready-made clothing is estimated at 51 million products, an increase of 5.2%; Tea of ​​all kinds is estimated at 21,500 tons, an increase of 10%...

Processing and manufacturing is the key industry, determining the scale and growth rate of the industry. Mr. Tran Van Viet - Deputy Director of the Statistics Department said: “According to the results of the survey on production and business of enterprises in the processing and manufacturing industry in the province in the second quarter of 2024, it shows that enterprises evaluate the situation as quite positive, with 78% of businesses stating that production volume in the second quarter increased and remained stable compared to the first quarter, and over 20% of businesses claim decrease in production volume. In the last 6 months of the year, over 85% of businesses said that production volume increased and remained the same”.

In the last 6 months of the year, it is forecast that the world situation will continue to fluctuate in complexity and unpredictability; The world and domestic economies tend to recover but still face many difficulties and challenges. To support development of businesses and industrial production, the province’s functional sectors continue to proactively grasp the production situation and remove difficulties and obstacles for industries, especially those with reduced production in the first months of the year, maximize production capacity in manufacturing and processing industries; Continue to complete investment procedures for projects, closely follow progress, and support new projects to soon be completed and put into production. Timely deploy preferential credit policies, reduce taxes, fees, and charges, and enhance people and businesses' access to credit.

Nguyen Hue